This page reflects COUR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — COUR
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $5.00 (0.85 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.30
±5.1%
Days to Expiry
2
Calendar days
Total Call OI
20,909
Nearest expiry
Total Put OI
11,560
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$5.85
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-06-18
$5.00
6/18/2026, 11:08:19 PM
2026-07-17
$4.00
7/17/2026, 11:10:00 PM
2026-08-21NextUpdated
$5.00
8/19/2026, 11:08:27 PM
2026-09-18
$6.00
8/19/2026, 11:08:27 PM
2026-11-20
$5.00
8/19/2026, 11:08:27 PM
2027-01-15
$6.00
8/19/2026, 11:08:27 PM
2027-02-19
$5.00
8/19/2026, 11:08:27 PM
Selected expiration: 2026-08-21 at max pain $5.00.
COUR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
4705900
4705900
2
200
3550000
3550200
3
1000
2394300
2395300
4
13200
1249400
1262600
5
214400
130700
345100
6
1301700
25600
1327300
7
2899900
7800
2907700
8
4820300
6000
4826300
9
6821000
4200
6825200
10
8862500
2400
8864900
11
10927300
1100
10928400
12
13001100
500
13001600
13
15083500
100
15083600
14
17169200
0
17169200
15
19257500
0
19257500
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.